flushed=false&cld-3742624;&rc;= 28962 1 7&centerwinayes;&fromPlayercneck-yes; He

Question

flushed=false&cld-3742624;&rc;= 28962 1 7&centerwinayes;&fromPlayercneck-yes; Help Nabila Rojas 2/23/16 10: Overvie P1-43A (similar to) 4 of 6 complete 4 of s complete 6 pts) 6 pts) lowingfinancial statements for Studio Photography for the year ended 2 Help Me Solve Thi , 2014 statement ent of retained earnings e sheet DemoDocs Examp Video Data Table S 8,000 Accounts Receivable S 10,000 17,000 Insurance Expense Cash Accounts Payable Advertising Expense 33,000 Notes Payable 14,000 Retained Earnings, Dec. 31, 2014 3,200 Salaries Expense 115,000 Equipment 23,000 95,800 29,000 Service Revenue Dividends 16,000 Common Stock Print ( Done Order Status: Pending MacBook Air

Explanation / Answer

Income Statement Service Revenue 115000 Less : Expenses Advertising Expense 3200 Insurance Expense 8000 Salaries Expense 23000 34200 Net Income 80800 Less : Dividends 16000 Income transferred to Retained earnings 64800 Retained earnings as on December 31,2014 64800

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